What is compound interest?
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Compound interest is the additional interest on the principal sum of a loan , or deposit or in other words interest on interest.
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Compound interest (or compounding interest) is interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan.
Compound interest (or compounding interest) is interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan.
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